FPM 132 : Fundamentals of Contracting

FAC-P/PM Program Entry Level

FPM 132   |   3 Days (24 Hrs.)

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Designed specifically for professionals earning their Entry/Beginner level FAC-P/PM certifications, FPM 132 is fully FAI-verified as meeting all OFPP / FAI v2.1 Performance Outcomes for the Contracting Competency.  This course introduces students to the basic concepts and fundamentals they need to effectively manage their Federal contracts and acquisitions.

Course Overview

Educational Focus

This course is focused on the fundamental Contracting and Acquisition terminology and concepts that the students will encounter in their day-to-day jobs, including:

  • Acquiring supplies and services related to IT, Construction, and Research and Development projects
  • Understanding and working within the requirements of the Federal Acquisition Regulation (FAR) Parts 1-14
  • Implementing the 9 things you must do "right" to have a successful contracting process, some of which include:
    • Establishing SMART requirements
    • Preparing the solicitation
    • Performing Source Selection
    • Administering the Contract

ALTA Learning Methodology

In addition to lecture and Q&A, this class provides a true adult learning experience by utilizing various other teaching modalities:

  • Throughout the course, students participate in an integrated case study to practice the skills that they are developing in a real-life, experiential environment.
  • Students use an extensive self-assessment tool throughout class to determine personal and organizational strengths and weaknesses.
  • Students demonstrate their knowledge by answering review questions at various times during the class and by passing an end of class exam.

Who Should Attend

  • New Project Managers with less than 1 year experience in Federal Project Management
  • Those responsible for basic, low-risk projects

FAC-P/PM Competencies Addressed

Fully verified by FAI, FPM 132 covers all learning objectives for the FAC-P/PM Entry-level “Contracting” Competency.

FAC-P/PM Competency Mapping

PPM-102 Competency Mapping

Course Topics & Modules

  • I. Why Are We Here?
    • Current OMB and Presidential initiatives
    • Identify the nine things you must do right for effective Contracting
    • Self-Assessment tools
  • II. Legal Foundations of Contracting
    • Key Terms and Definitions
    • Regulatory Directives and Requirements
  • III. Overview of Performance-Based Acquisition (PBA) and Acquisition Planning
    • Identify the objectives of Performance-Based Acquisition
    • Understand the responsibilities of the PM, PCO and other members of the contracting team or IPT to develop a comprehensive Acquisition Plan as required by the FAR
  • IV. Preparing the Right Requirements
    • Review the development and documentation of the following requirements:
      • Statement of Objectives (SOO)
      • Statement of Work (SOW)
      • Performance Work Statement (PWS)
      • Detailed specification
  • V. The Right Type of Competition
    • Understand the different forms of competition
    • Be aware of needed team activities in appropriate market research and acquisition of commercial items in accordance with FAR Parts 10 and 12
  • VI. The Right Contracting Method
    • Be aware of different contracting methods and needed compliance with FAR Parts 5, 13, and 14
    • Review the choice  of the type of solicitation and specification to fully and clearly communicate agency needs to potential suppliers
  • VII. The Right Chioce of Contractor
    • Understand the steps used in the selection of the right contractor:
      • Learn the steps in the source selection plan needed to make sure it is effective, yet unbiased in selecting a contractor who will provide the best value to the agency
      • Understand the work of the source selection evaluation board, the source selection advisory council, and the source selection authority
  • VIII. The Right Price
    • Learn the methods used to determine the right price through the appropriate use of:
      • Price analysis
      • Cost and profit analysis
  • IX. The Right Type of Contract
    • Understand the advantages, disadvantages, and concepts of different types of contracts
  • X. The Right Contract Administration
    • Understand the steps involved with the administration of contracts
    • Identify the different methods to provide the right amount of oversight
  • XI. Student Assessment
    • Students will demonstrate their understanding of the material covered in the class by passing an end of course exam and updating their assessment of competency in meeting the prescribed performance objectives

Training Hours/Credits Earned

Standard Class Hours
8:00 a.m. to 4:30 p.m.

Credits Earned
24 CLPs
24 PDUs (Course approved by PMI® and is eligible for PDU credit)
2.4 CEUs

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